Chinese state-run media on Friday condemned the arrest in Canada of a top executive of telecoms giant Huawei on a US extradition request as a "despicable rogue's approach" to contain China's hi-tech ambitions.
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CNN says : 1 hr ago

Meng Wanzhou, the CFO of Chinese tech giant Huawei, has kept a low profile for much of her career. Now she's at the center of a geopolitical drama between the world's two largest economies.
The 46-year-old executive was arrested Saturday in Canada, and faces extradition to the United States. After news of her arrest broke late Wednesday, Meng's face was splashed across the internet.
Meng is the daughter of Huawei's billionaire founder, Ren Zhangfei, and her case threatens to ramp up tensions between Washington and Beijing.
"The fact that this is Ren's daughter and a very senior official in the company sends a very strong message to China: no one is above US law and we will reach out anywhere in the world and arrest you if you break the law," said Paul Triolo, the head of global tech policy at risk consultancy Eurasia Group.

Meng Wanzou's arrest follows a US probe into the company's alleged violations of Iran sanctions. She faces a bail hearing in Canada later on Friday.

The arrest of Meng, chief financial officer and daughter of the company's founder, has angered the Chinese government and raised concerns that it could disrupt a trade war truce between the world's two biggest economies.
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FOW says: 1 hr ago

The United States has asked Canada to extradite a top Chinese tech executive who's accused of Iran sanctions violations – but that seemingly straightforward request could end up spawning a set of complications that prevent Meng Wanzhou from ever setting foot on American soil.

Wanzhou, the chief financial officer of Huawei Technologies and the daughter of the company's founder, is set to appear at a bail hearing Friday. She was taken into custody last weekend while transferring flights in Vancouver, adding a new layer to the already-tense diplomatic standoff between China and the U.S.
Beijing has called the arrest a human rights violation and demanded the immediate release of the 46-year-old tech heavyweight.

If Meng is granted bail Friday, it will likely be in the range of several million dollars and she could be forced to give up her passport and wear electronic monitoring equipment, according to several lawyers interviews by Reuters.

If Meng chooses not to fight extradition to the U.S., she could be in America within weeks -- though it's unlikely she accepts being transferred to America. If, as expected, she battles extradition, the case could drag on for years, according to Reuters.

Chinese foreign ministry spokesman Geng Shuang on Thursday said the U.S. and Canada haven’t provided reasons for Meng's detention. However, The Wall Street Journal reported in April that U.S. authorities were investigating whether Huawei violated sanctions on Iran.

Meng’s arrest was made on behalf of the U.S. after Canadian authorities were given advance warning she would be passing through Vancouver, Prime Minister Justin Trudeau revealed Thursday in his first comments on the case.

“The appropriate authorities took the decisions in this case,” Trudeau told reporters. “We were advised by them with a few days notice that this was in the works but of course there was no engagement or involvement in the political level in this decision because we respect the independence of our judicial processes.”

Re: Huawei's Meng Wanzhou faces extradition to US

The arrest of Huawei Technologies Co.’s chief financial officer is sure to put a crimp in the Trump administration’s trade truce with China, as that highly sensitive issue gets more so, but investors are nervous about the impact the whole saga will have on Silicon Valley and abroad.

On Thursday, shares of many chip and fiber-optic companies fell, helping fuel a market downdraft that reversed at the end of the session. Investors fear — with good reason — that the arrest in Canada of Meng Wanzhou, the CFO and the daughter of the founder of one of China’s largest tech giants, on a request for extradition from the United States, will derail the trade truce that presidents Donald Trump and Xi Jingping had agreed to in Buenos Aires. On Wednesday, a former Commerce Department official told Axios that China could retaliate and hold U.S tech executives hostage. He advised U.S. tech executives not to travel to China this week.

“My biggest worry is escalation,” said Stacy Rasgon, a Bernstein Reseach analyst. “We just arrested the daughter of the founder of the most important tech company in China.”